Banks grab Goldman HQ

The American investment bank’s home for nearly 20 years has been taken into receivership after their owner defaulted on a loan

Goldman’s landlord is Antedon, a property investment firm (Leon Neal)
The City headquarters of Goldman Sachs’s European operation has been seized by
a consortium of banks in one of the largest property collapses since the
financial crisis began.

Peterborough Court and Daniel House on Fleet Street, the American investment
bank’s home for nearly 20 years, have been taken into receivership after
their owner defaulted on a loan.

Directors at Jones Lang LaSalle (JLL), the property consultant, were appointed
to take control of the buildings last week by a group of lenders led by
Berlin Hyp, the real estate financing division of Landesbank Berlin.

Goldman’s landlord is Antedon, a property investment firm understood to be
registered in Jersey. It paid £355m for the complex at the top of the market
in spring 2007. The deal is understood to have turned sour as real estate
valuations took a battering.

Berlin Hyp’s decision to take control contrasts with the approach taken by
many